CORRECTED-BUZZ-GlobalFoundries falls on downbeat first-quarter revenue forecast

Corrects headline to add dropped word "forecast" and bullet five to say Q4 revenue met estimates and not missed expectations

Shares of contract chipmaker GlobalFoundries GFS.O down 6.5% at $35.29 in premarket trading

Co expects Q1 2025 revenue between $1.55 bln and $1.60 bln, vs analysts est. of $1.66 bln - data compiled by LSEG

On an adjusted basis, GFS expects Q1 EPS between 24 cents per share and 34 cents, the mid-point of which is below est. of 32 cents

Co tempers expectations amid looming fears of President Donald Trump's tariffs and a challenging smartphone market in 2025

Co posts Q4 revenues of $1.83 bln, which was in line with estimates

In 2024, the stock fell 29.2%